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ACV ETFs

ETF Fund DATA

FUND NAME:

American Conservative Values ETF

TICKER:

ACVF

INCEPTION DATE:

10/29/2020

MANAGEMENT STYLE:

Active

CUSIP:

26923N108

TOTAL GROSS EXPENSE RATIO:

0.75

ASSET CLASS:

Equity

EXCHANGE:

NYSE Arca, Inc.

ADVISOR:

Ridgeline Research LLC

IPOV TICKER SYMBOL*:

ACVF.IV

AS OF DATE:

9/24/2021

NAV ($)**

33.01

MARKET PRICE ($)***

33.04

PREMIUM / DISCOUNT (%)

0.10%

30 DAY MEDIAN BID/ASK SPREAD****

0.15%

SHARES OUTSTANDING

850,000

TOTAL NET ASSETS

$28,059,860

*IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.
**“Net asset value” or “NAV” is determined by adding up the value of all the assets in the fund, including assets and cash, subtracting any liabilities, and then dividing that value by the number of outstanding shares in the ETF.
***Market Price is defined as the official closing price of the ETF share.
****30-Day Median Bid/Ask Percentage Spread Calculation: Based on Rule 6c-11(c)(1)(v), to calculate the median bid-ask spread the fund, (i) identifies the ETF’s NBBO as of the end of each 10-second interval during each trading day of the last 30 calendar days; (ii) divides the difference between each such bid and offer by the midpoint of the NBBO; and (iii) identify the median of those values.

PREMIUM/DISCOUNT

NUMBER OF DAYS AT

QTD

2021

2020

PREMIUM*

46
144
24

DISCOUNT**

13
39
20

TOTAL

59
183
44

PREMIUM*

QTD

2021

2020

46
144
24

DISCOUNT*

QTD

2021

2020

13
39
20

TOTAL

QTD

2021

2020

59
183
44

*Premium – The number of trading days the ETF’s closing price exceeds its NAV.
**Discount – The number of trading days the ETF’s closing price is below its NAV.

BOYCOTTS (Worst of the Worst)

Effective August 26th, ACVF has divested its holdings and initiate a boycott of Bank of America Corp. (BAC), Lowe's Co., Inc. (LOW), American Express Co. (AXP) and Nasdaq, Inc. (NDAQ) as part of its periodic portfolio reconstitution and rebalancing. To facilitate this increase in ACVF’s activism, particularly in the financial services sector while remaining confident that it can provide predictable large-cap performance, ACVF is ending its boycott of Wells Fargo & Co. (WFC) and 3M Co. (MMM).

PORTFOLIO HOLDINGS